Insuring nightclubs is often regarded by companies as a ‘high risk ‘area due to the various aspects that can affect them.
While it is classed as a specialist area of insurance that not all companies insure, it is important to consider the alternatives to big-name insurers that can help you to save money and have a more flexible level of cover that best suits your nightclub business.
An example of a big-name insurer would be Camberford Law. Boasting a promising 50 years of experience and expertise, it is easy to understand why undertaking a policy with such a reputable company is appealing to businesses and nightclub.
Camberford Law may be the leaders in specialist insurance, particularly in terms of nightclub insurance, where they look beyond the ‘high-risk’ nature to provide competitive quotes. However, other nightclub insurance providers can also promise a comprehensive policy package that is cost-effective, competitive and, like Camberford Law, assesses each individual aspect of risk to ensure the best policy.
What does Camberford Law include in their nightclub insurance?
Camberford Law highlights on their summary of cover to include an array of options. In terms of the property of the nightclub, you can select from options of insurance including;
- Fixture, fittings and contents
- Stock including alcohol and beverages
- Sound and lighting equipment
- Loss of rent or licence
- Deterioration of stock
- Money on the premises
- Business interruption.
As well as property, Camberford Law also offers liability cover included within nightclub insurance. These liabilities include up to £10 million as standard for employers’ liability insurance, which is a legal requirement for nightclubs who have employees. As well as the fundamental employers’ liability insurance Camberford Law also include product and public liability.
Other aspects that you can add to a policy include;
- Cloakroom cover
- Food served cover
- Money carried by employees
- All risk extension.
While these are the general coverage options that most nightclub insurers offer, what if you do not require them all? Various nightclubs will not include some aspects, such as serving food on the premises. On the other hand, some nightclubs will focus specifically on one element, such as furnishings, which become a high-value part of the business that they want increased protection for.
With clubbing culture further cultivating, businesses are inclined to spend a considerable amount more on interior design in their clubs, with some of the furnishing and art décor amounting to thousands. Having protection for the damage of such items enables a club to keep in excellent condition that ensures the business that clubbers will keep on coming.
This also presents further protection due to lack of furnishing damage, meaning that there is a lesser chance of accidents that the business can be held liable for. Running such an at-risk venue in an industry filled with drinking means that any opportunity to further protect the company should be taken.
As well as furnishing insurance, protection for drinks licensing is also highly necessary for smaller nightclub businesses that simply cannot afford any extreme legal charges applied regarding the sale and consumption of alcohol. It is a given that the sale and consumption of alcohol are the two most effective functions within the running of a nightclub to make a profit. However, both can have devastating effects on the business and the customer. Protecting against these effects is a sure safe way to keep a venue open and functioning to the best of its abilities.
Finding Camberford Law alternatives
Seeking insurance from a reputable and well-established company seems the best option for most venues. When it comes to large chains or independent or new-starting nightclub businesses, you need the reassurance that your insurer will pay out when it comes to making a claim. However, this does not mean you are limited to one nightclub insurance provider. At Compare Insurance, we complete insurance comparisons on a range of different reputable providers to find the right insurer to suit your needs.
Through nightclub insurance comparison we provide businesses with the opportunity to weigh up the cost and options of cover they need instead of ones that they are told they require. Having a personal advisor to guide you through the nightclub insurance process, we can make sure you have the best coverage while making sure you have not forgotten to include vital aspects of cover.
Our well trained and qualified advisors can take your business plan and highlight what is or should be necessary for your business, in comparison to what you may not need on a day to day basis. It is important to remember that for special events you can include one-off and temporary insurance to give coverage to unusual, rare or one-off events that your nightclub may hold.
While the level of cover is always the most important factor when taking out a policy, it is also important to consider the cost element in comparison. Without cutting corners, comparing nightclub insurance is an excellent way to assess the cost of each policy alongside its coverage. For example, some insurers will offer varied price plans, discounts and special offers for small or newly starting businesses.
Comparing nightclub insurance
Opening a nightclub can be exciting, stressful and scary business all at the same time. Going straight to the first insurer you know can seem like the easiest option, however shopping around for the best deal is the best option to help you get off on the right foot. Fortunately, with Compare Insurance, we take the hassle out of shopping around by doing all of the research for you. Simply tell us your needs, and we will quickly access a range of quotes from some of the UK’s top providers and tailor make each policy specifically with your venue in mind.
Want to save money with your nightclub insurance policy? Then get in touch with the experts at Compare Insurance who will strive to find the best deal for your need and nightclub. Call for free today on 0333 344 3705.